The crypto market has just hit a milestone that’s hard to ignore — a total market cap of $3.12 trillion, marking a 7% surge in just 24 hours. If the crypto market were a country, it would land right behind the U.S., China, and Germany in terms of GDP, even edging close to surpassing France’s economic output. As of Nov. 11, Bitcoin (BTC-USD) led the charge, rallying to nearly $90,000, pushing its own market cap to over $1.77 trillion, surpassing Spain’s GDP, according to the International Monetary Fund.
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Bitcoin’s Surge Could Push Market to $4T
Bitcoin is not slowing down. With the current surge, analysts like Markus Thielen from 10x Research are betting Bitcoin will hit $100,000 before year-end, potentially propelling its market cap to almost $2 trillion. Thielen expects Bitcoin dominance to stay strong, even as Ethereum and Solana show signs of catching up. “We anticipate Bitcoin’s dominance to remain strong,” Thielen said, adding that the rally would eventually spread to other altcoins.
Debate Over Altcoins and Market Dominance
But not everyone shares Thielen’s optimism about Bitcoin’s sustained dominance. Rachael Lucas, a crypto analyst at BTC Markets, believes a broader market rally toward $4 trillion could trigger a boom in altcoins, weakening Bitcoin’s grip on the market.
At the time of writing, Bitcoin is sitting at $87,077.36.
